September 13, 2021
World's pig meat prices dropped in August 2021, according to FAO meat price index
Global pig meat prices fell in August this year while prices for bovine, ovine, and poultry meat rose, according to the FAO meat price index.
The price index averaged 112.5 points in August, up slightly from July, placing the index 20.3 points (22%) above its value in the corresponding month last year.
In August, international quotations for ovine and bovine meats increased, principally underpinned by high purchases, mainly by China and constrained supplies of animals for slaughter in Oceania.
Poultry meat prices also rose, reflecting solid import demand from East Asia and the Middle East and limited production expansions in some major exporting countries owing to high input costs and labour shortages.
By contrast, pig meat prices fell due to China's continued decline in purchases and weak internal demand in Europe amid a slight increase in the supply of slaughter-ready pigs.